10 OCTOBER 2001
Londons Sunday Times reports the Rothschild Asset Management has been hit adversely by the recent weakness of the worlds stock markets.
In fact, the blow taken by the investment arm of the Rothschild banking family leading it into a potentially painful strategic review that could lead it to being put up for sale in the near future.
However, what impact a potential sale of Rothschild Asset Management would have on local fund manager, Valletta Fund Management, is so far unclear.
Rothschild Asset Management currently owns 40 per cent of Maltas first fund management firm, with Bank of Valletta holding the remaining 60 per cent.
Although Rothschild Asset Management manages funds in the region of
GBP15 million in total, the firm is still comparatively small when measured
against the likes of Merrill Lynch and Amvescap and it reportedly fears
that it will face an increasingly uphill struggle to grow in the new
and more challenging financial market that has been created in the wake
of the 11 September attacks on the World Trade Centre.